tag:blogger.com,1999:blog-6276561747841568697.post535075827107826793..comments2024-03-27T05:23:48.855-04:00Comments on Krugman-in-Wonderland: No Paul, Austrian Economists are Not Self-Hating KeynesiansWilliam L. Andersonhttp://www.blogger.com/profile/01802990642236807359noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-6276561747841568697.post-49239403299921303122010-04-09T08:50:03.288-04:002010-04-09T08:50:03.288-04:00Krugman's blogs on the subject are almost too ...Krugman's blogs on the subject are almost too painful for me to read. I run the danger of getting concussed from repeatedly banging my head on the desk in sheer frustration.<br /><br />On the other hand, I think it is marvellous that Krugman actually feels pressured to comment on the criminally-neglected Austrian Business Cycle Theory <i>at all</i>. Would this have even been happening several years ago ?Unknownhttps://www.blogger.com/profile/00289445360820713067noreply@blogger.comtag:blogger.com,1999:blog-6276561747841568697.post-31408146510041240582010-04-09T00:40:52.295-04:002010-04-09T00:40:52.295-04:00I just want to say that I think yours is the most ...I just want to say that I think yours is the most important blog on the Internet right now.Terry Thorsenhttps://www.blogger.com/profile/06056692124531657442noreply@blogger.comtag:blogger.com,1999:blog-6276561747841568697.post-17313689207060430032010-04-08T19:50:57.248-04:002010-04-08T19:50:57.248-04:00I do appreciate the intelligent comments here. It ...I do appreciate the intelligent comments here. It is refreshing after seeing Krugman's less-than-intelligent stuff!William L. Andersonhttps://www.blogger.com/profile/01802990642236807359noreply@blogger.comtag:blogger.com,1999:blog-6276561747841568697.post-39009484402952440222010-04-08T15:56:34.906-04:002010-04-08T15:56:34.906-04:00I think the comment from ed infidel is right on po...I think the comment from ed infidel is right on point.<br /><br />Keynesian: Cheap money causes booms.<br />Austrian: Cheap money causes unsustainable booms.<br /><br />However, Krugman is essentially agreeing with the Austrians that funny money causes mis-directed booms (malinvestments anyone?). Being totalitarians at heart, the Keynesians want Mary Poppins, I mean THE ALL KNOWING BENEVOLENT GOVERNMENT, to redirect the boom with wise REGULATION. That argument just goes back to the Austrian argument about free market prices as essential to disclosing the value of various factors.<br /><br />Further, if Krugman wants to know what it is that is driving EMPLOYMENT during the boom, it is entrepreneurs who are hiring people to facilitate their malinvestments. Think about the housing boom and all the related fields of employment stimulated by that. Isn't that beyond obvious? <br /><br />I really don't see Krugman's point as serious. He's just trying to confuse and confound and drive his minions away from learning Austrian truths.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6276561747841568697.post-13573281187172306842010-04-08T00:20:41.680-04:002010-04-08T00:20:41.680-04:00It would be nice if Krugman would actually agree t...It would be nice if Krugman would actually agree to debate someone publicly. If not that, it would be more honest of him to at least provide direct quotations from those he is arguing against, rather than putting words in their mouth. I don't recall ever reading anything from him where he even names an Austrian economist.Unknownhttps://www.blogger.com/profile/00916592783838696390noreply@blogger.comtag:blogger.com,1999:blog-6276561747841568697.post-47787047404674283822010-04-07T21:09:56.908-04:002010-04-07T21:09:56.908-04:00I saw the following on Mises.org which seems relev...I saw the following on Mises.org which seems relevant to your comments, though perhaps it is somewhat simplistic.<br /><br />Keynesian: Cheap money causes booms.<br />Austrian: Cheap money causes unsustainable booms.Barking Cathttps://www.blogger.com/profile/05440084848602647177noreply@blogger.com